Buyer's Premium

Please make sure you understand how much you will need to pay in addition to the hammer price of your lot. Contact us if you need any further information or advice and we will be happy to help.

Commission Charges

Fine Art, Specialist and Country House Sales
You will pay a premium of 20 per cent plus VAT of the hammer price of your purchase on each lot.

Antique & Interiors Sales
You will pay a premium of 17.5 per cent plus VAT of the hammer price of your purchase on each lot.

VAT

Please check to find out if you will have to pay VAT on the hammer price of your lot.

Auctioneer’s Margin Scheme

This scheme allows auctioneers to sell items without VAT on the hammer price. You will then pay an amount equivalent to VAT. This amount cannot be refunded and is not shown separately on your invoice

Royalty Payments

If you buy a work of art by a living artist, and those who have died in the last 70 years, which costs more than the UK sterling equivalent of €1,000 you will have to pay a royalty charge. We pass this payment onto the Design and Artists Copyright Society (DACS), and do not charge a handling fee. You can calculate royalty charges on the DACS website.

The royalty charge for qualifying items with a hammer price over the UK sterling equivalent of €1,000 as follows:
Up to €50,000 – 4%
€50,000.01 to €200,000 – 3%
€200,000.01 to €350,000 – 1%
€350,000.01 to €500,000 – 0.5%
Exceeding €500,000 – 0.25%
For further information please visit www.dacs.org.uk or www.artistscollectingsociety.org. There is no VAT payable on this royalty charge.

Items marked with the 'tick' symbol in the catalogue will potentially attract royalty payments.


VAT Rates

VAT is charged at the rate applicable on the day of the sale.

Euro Exchange Rate

We use the Euro to UK sterling exchange rate which applies on the day of the sale.

 


  • Buying & Selling
    Buying & Selling
    Buying & Selling at Tennants Auctioneers - find out all you need to know by clicking below
    Read more
  • Beyond The Rostrum
    Beyond The Rostrum
    The latest Spring/Summer issue of Tennants Newsletter is now available to view online
    Read more
  • Valuations
    Valuations
    For more information on our valuation services click below
    Read more
  • The Garden Rooms at Tennants
    The Garden Rooms at Tennants
    Click for more information on the newly opened events & exhibition centre
    Read more
  • The Blog
    The Blog
    The blog at Tennants Auctioneers
    Read more